What is a Pre-Purchase Inspection?
A Pre-Purchase inspection provides a report that outlines a property’s attributes, gradual deterioration or wear & tear, significant maintenance required and significant defects so the purchaser can make an informed decision on any home purchase.
The major reasons to have a building inspection are outlined below:
- Without expert knowledge of construction methods and materials, many defects are concealed and difficult to detect.
- Most people won’t get onto the roof, into the roof and under the floor of a home during their own inspections of a property which may mean potentially significant and costly defects would be missed.
- Many individuals don’t have the expertise or time to assess the potential cost and works implications of the defects that are easily identified or obvious.
- Interstate investors may buy property ‘online’ and a building inspection allows them to get independent advice and information about a property rather than relying on the advice of agents who have a vested interest in the sale proceeding.
- You can rely on the findings of a building inspection as they are backed by Professional Indemnity insurance provisions, the advice of a ‘mate’ or ‘friend’ in the building trade doesn’t have the same assurances.
- Prevent financial loss which may occur if you find major defects and safety hazards.
- Assist you to plan for repairs and renovation and their likely cost.
- Determine the rate of return on potential investments given the likely maintenance requirements.
- Aid in negotiations for the sale or purchase of a property.
- Document the condition of an adjoining property prior to major works which may create unintended
- Building inspections are particularly critical when considering that a home or building may have Asbestos or other potential contaminants present including mould or lead products which are known health hazards.
- When purchasing a building many people will plan to spend up to their maximum financial capacity to acquire the property. Without a building inspection, these investors and homeowners may then find themselves unable to meet the costs of repair works required to address defects.
Do I own my written report?
You will receive a PDF file to your email. You own your written report and it cannot be re-produced in someone else's name without contacting the author of the report to arrange an inspection re-name.
When to organise an inspection?
The timing depends on your situation and mostly the method of sale. As the findings of a building inspection report may cause you to withdraw an offer you should always ensure that you are informed of your rights and options. Engage a conveyancer or settlement agent as early as possible.
What inspections do THISNZ offer?
- Pre-Purchase Inspection – for the potential property purchaser.
- Independent Building Inspection – for the vendor.
- Healthy Homes Assessment – for a tenant or landlord.
- Methamphetamine Screening – for a tenant, property manager or property purchaser.
Inspections are generally ordered in the process of buying or selling a home. An inspection may also be required if you discover that your home has developed a building defect over time or because of an incident.
- Home buyers and sellers.
- Residential property investors.
- Property managers including body corporates and strata title managers.
- Owners of property including government and private agencies and businesses.
- Building and construction contractors.
- Commercial building inspections for builders who are concerned about the impact of construction works on neighbouring properties.